How to Monetize Virtual Reality
Here is a comprehensive list of the various avenues to monetize virtual reality.
Here is a comprehensive list of the various avenues to monetize virtual reality.
Money is the motivation behind everything nowadays and the success of every business is quantified in terms of how much money it gives back in return.
Employment and unemployment are usually on topic wherever you go. But ever since the Internet, it is no longer business as usual for most employers and employees! People are now getting to virtual online work platforms contrary to the past when employers and employees were confined to their geographical locations. This makes it possible for you to literally work for any company or client around the world from anywhere you want.
For most people, surfing the internet is just part of your day to day life.
However, whilst most people simply use the internet to login to facebook, check news sites or watch cute cat videos on youtube, some people are actually earning a living from it online.
There are very many ways of making a modest living online but the two most common methods are:
Freelancer – SEO, Web Design, Graphics Design. Whatever skills you’ve got that is transferrable online, there are people willing to pay for the service.
Affiliate marketing – Make money selling other peoples products. Sounds easy enough provided you can generate traffic and conversion to your website.
The best part of it all is that you don’t have to waste time travelling to your clients’ location. No. You only have to contact them and once the negotiation process is done (online), You can get down to working and after completing the contract as agreed, submit the work online. If you use seo for affiliate marketing then you don’t even need to deal with clients.
Freelancing has a big future in employment in my opinion. In years to come, most of the world’s population will be working and employing online. For example, as per now, around 50 million people in the US alone work online.
There are online platforms via which the employees and employers meet. These platforms are referred to as online work platforms. It’s no longer just the odd small business turning to these online work platforms, huge companies also use these for the flexibility of hiring a skilled contractor without all the red tape.
The main platforms on the market at the moment are; Upwork, Freelancer.com, Fiverr and Guru. But there are many more of these each offering something unique.
Of course, your online money making ventures are not limited to being a freelancer or online contract work. Other ways to make money online include trading Forex, commodities, stock and binary Options. These require skills and I would not advise you to jump in lightly as they require investment and high risk.
You need skills. Remember working online is still a form of employment and in every employment the employer will always go for specific skills. You therefore have to have learn and perfect some skills. Now you may have graduated with a journalism degree so you can write great content which is highly in demand right now, or you are an experienced graphics designer. When you are qualified and experienced you can get a job anywhere.
However the beauty of the internet is that it allows you to learn skills which aren’t even taught in schools or colleges. Search engine optimisation or digital marketing for example is a case of learning from online material and trial and experience. If you want to learn seo there are plenty of available guides online, I wrote a guide to local seo myself.
If you have the skills, you can go ahead and sign up to one of the many sites. The platform of your choice should have ample clients looking for freelancers with your type of skills and should also be secure. For example, if you are a web developer, you should look for platforms like freelancer.com or Upwork where there are many clients who require web development services.
Every online working platform makes money by cutting some amount from the pay that the client makes. Different online working platforms cut different percentage from what your client pays you. For example, Upwork will cut 10% of the pay while
Fiverr will cut 20% of your pay. So take that into consideration.
You will be required to add some information on how you will be withdrawing your funds. This will require you to have a link from your online work platform to your bank account. There are various ways to withdraw funds to your bank account. Some of the most popular ways to withdraw your funds is via PayPal, Bank Wire Transfer, Payoneer and Skrill. You have to ensure that the information that you disclose at this point is safe to avoid instances of your bank account being hacked into.
After registering yourself with an online work platforms of your choice, you will have to work on your profile. The profile is what reflects your skills to potential clients. When a client wants to know whether you are capable of performing a certain task, they will first look at your profile to see whether you have the necessary skills or experience. Working on the profile is one of the harder parts to perfect.
The first thing is to complete your profile to 100%. In most cases, you will be required to fill a form with your name, country of origin, your telephone on mobile number, your email address and an upload of your picture. The picture should be very decent to portray professionalism.
Add your education background as well as any work or employment history that you have had. You should be careful to provide an academic background and work history that matches the skills that you claim to possess. This will go a long way in giving your clients that confidence that you are extremely good in whatever you do.
In some online work platforms, you will also be required to do some tests related to your skills as a way to ascertain that you are really good in whatever you claim to be good at. Before taking any test, ensure that you understand the areas that are covered in the test for you to score highly. The higher the points you get in these tests the better placed you are among your fellow freelancers with the same skills as you.
Then, the most important thing on your profile is your reputation among the clients that you have had a chance to work for. When you are given any task, you should ensure that you do it to perfection so that the client will rate you high or even come back to you for extra work. When you get many positive reviews (5 stars) from your past clients, you stand a greater chance when clients are making a decision on whom to offer their contracts to from a large number of applicants.
For you to work online, you will require:
A bank account
That’s it. To summarise; learn some valuable skills, make use of available digital resources, sign up to an only work platform, perform the task well, get paid!
Imagine a world where almost everything you can imagine is connected to the Internet. This world is apparently only a few years away according to Gartner who predicts there will be 25 billion connected “things” by 2020, compared with 4.9 billion by the end of 2015.
Up until now, data was derived from customers through direct and inferred means including loyalty schemes, web browsing, registration and so on. However through the IoT data will come directly from the product itself which will create a host of new insights, opportunities and will also drive the next wave of digital disruption in certain industries and categories.
Whilst connected “things” present a significant opportunity for brands there are certain “connected device” categories that have seen greater consumer uptake than others.
In Australia, wearables are one category that is growing at a rapid rate. According to Telsyte 370,000 smart-watches were sold in Australia in 2014 and a further 800,000 smart wristbands were sold over the same period. 30% of Australian households also now own a smart TV. However consumer penetration of connected white goods and other household appliances is still in its infancy. Although consumer adoption at present is still embryonic in a number of categories the landscape will evolve quickly with manufacturers in these categories i.e. white goods, home security etc embracing the IoTs in a big way.
Whilst many marketers are struggling to grapple with leveraging all of the data currently available to them – the IoTs is set to further accelerate the generation of data and create a whole host of new data challenges and opportunities. In particular, the IoTs promises a wealth of opportunities for brands to further enrich their CRM strategy as it will provide new ways to connect with customers and deliver highly relevant, personalised 1:1 communications through the products themselves – all underpinned by real time data. For brands in the FMCG and manufacturing space the IoTs will be particularly fertile ground allowing these brands to develop a direct relationship with the end consumer – something retailers will be very closely watching. Unilever is one FMCG brand that is betting big on the IoTs;
Marc Mathieu, Global VP of Marketing at Unilever recently said in an interview that Unilever is “very keen” on the internet of things area and what the space may mean for the future of its brands, which includes Magnum, Dove and Flora. “I’m a huge believer and very interested in everything related to data, so really understating how data is going to enable us to contextualise and personalise experience and the relationship with people on their terms and not just our terms is interesting.
Equally though, the IoTs will open the door for services like insurers organisation to collect more data on health, wellbeing and even car usage which will enrich the customer data profile and allow service organisations to deliver more relevant communications and offers based on customer needs.
So rich is the IoT territory marketing automation platforms are already jumping on the bandwagon.
According to Marketing Magazine “Salesforce has started opening its CRM platforms to data from connected devices, with support extended to Google Glass, Samsung Galaxy Gear, Fitbit and Facebook-owned augmented reality tool Oculus Rift”. Whilst Adobe announced earlier this year that the Adobe marketing cloud now supports digital content testing, optimization and personalisation beyond web browsers and apps across any IoT device.
The IoT will be the next big to trend that will further drive a significant shift in the way brands market. Is your organisation ready?
It’s been a year since I compiled my latest digital stats summary and so I felt I was long overdue to provide another one.
A lot can happen in a year, it was only yesterday my son was born and next week we are celebrating his first birthday (now you know why it’s been a while between drinks).
In digital a year is like a decade and the statistics demonstrate just that. With consumer consumption across the majority of channels and devices continuing to show upward growth – the biggest thing marketers need to be thinking about is how to reach the connected consumer in a orchestrated fashion.
Whilst building channel strategies is important often these are done with little consideration to the customer journey. It’s time for marketers to build blended strategies and understand consumer behaviour across various channels on the path to purchase to minimise marketing investment / waste and maximise value derived from digital efforts. I often talk about spray and pray in the email space and as brand investment has continued to grow we are seeing a similar approach applied to other key channels like social, display and more. Advertising networks including social, news publishers and beyond are innovating heavily to aid marketers to become more targeted and reach consumers at various stages of the path to purchase rather than just at the awareness phase. To do so marketers need to start taking a risk in Australia, testing and learning in this space to improve returns from digital budgets.
Over the coming few years, brands who leverage these innovations and combine it with their own consumer data to drive sophisticated, relevant and timely digital strategies will rise above the pack.
Now onto the stats…
1. The percentage of Australians owning 3 electronic devices – a smartphone, a tablet and a laptop – has climbed to 53 per cent, from 28 per cent last year – Deloitte Australia, July 2014
2. 56% of Australians own a tablet device up 12% over the past 12 months – Sensis eBusiness Report, September 2014
3. 77% of Australians now own a smartphone up 5% over the past 12 months – Sensis eBusiness Report, September 2014
4. 55% of mobile web users now use mobile as either their primary or exclusive means of going online, an increase from 40 percent in 2013 – InMobi Report
5. Of those Australians who have an internet enabled phone 53% access the internet more than 5 times a day – with one in 5 accessing it more than 15 times a day – Sensis eBusiness Report, September 2014
6. The average mobile user consumes 6.7 hours of media per day, with mobile (23.3%) almost surpassing television (23.8%) in terms of time spent – InMobi Report
7. Tablet ownership is highest amongst Millenials and generation Xers. Over the past 3 years, 67 year olds and over (the Matures) have shown the greatest increase in appetite for tablets and are the only age group to have higher ownership of tablets than smartphones – Deloitte Media Consumer Survey
8. Tablets continue to be used primarily for content consumption rather than content production or creation. Tablet usage in Australia differs across age groups. Boomers and Matures tend to use their tablets for communications, reading the news and e-books, as well as for online banking and taking photos. Millennials and Xers are more likely to use their tablets to watch TV shows and listen to music – Deloitte Media Consumer Survey
9. Australians spend an average of 3.3 hours online for personal use as compared to 2.2 hours watching TV – TSN
10. The Internet as a preferred source of entertainment continues to grow at the same rate as in previous years (10% YOY growth over the past 3 yrs), it will eclipse watching TV in the coming year heralding a significant digital tipping point in our media habits – Deloitte Media Consumer Survey
11. Connected TV use in Australia lags compared to other markets at 42% vs China (83% of those surveyed), the US (58%) and Italy (51%) perhaps due to the limited content offered locally – Deloitte Media Consumer Survey
12. When it comes to online video, men lead the way in terms of consumption whilst the number of viewers across male and female are evenly split men watch 155 streams a month on average, vs. 138 for women—or 12.3% more. They also spent about three-quarters of an hour longer watching those streams – Nielsen Online Ratings & Hybrid Streaming
13. Overall in February 1.1 billion videos were streamed from YouTube with an average time spent among video viewers of 5 hours 43 minutes – Nielsen Online Ratings & Hybrid Streaming
14. e-books are on the rise with almost 32% of Australians purchasing e-books. 66% of those who purchase e-books are reading more digital books than printed books – Deloitte Media Consumer Survey
15. Australian consumers are not willing to pay for news online with 92% of Australians saying that they would not pay, as they believe there is enough information available for free – Deloitte Media Consumer Survey
16. Traditional news formats continue to decline, with 32% of Australian survey respondents now indicating that keeping up to date with breaking news is one of their top 3 reasons for using social media – Deloitte Media Consumer Survey
17. For the year to July total online sales grew by 8.6% to reach $15.6 billion, online sales are now equivalent to about 6.6% of traditional retail spending, up from 6.3% for the same time last year – NAB, July 2014
18. 3 in 4 Australians are spending more than $2,500 each year buying goods and services over the internet – Sensis eBusiness Report, Sept 2014
19. Males are more inclined to make more purchases online, spending on average $3100 compared to $2100 for females – Sensis eBusiness Report, Sept 2014
20. Almost as many Australians reported purchasing on tablets (27%) as mobile phones (30%) over the past 12 months despite higher ownership of mobile phones – Sensis eBusiness Report, Sept 2014
21. On average, 26% of online purchases from Australians are made from businesses located overseas, which has fallen from 32% last year. Australians in the younger age demographics tended to report higher proportions of their online purchases coming from overseas – Sensis eBusiness Report, Sept 2014
22. Age is correlated with the number of connections Australians have online with those 14 – 19 boasting average 511 connections, whilst those 65+ having on average 88 connections – Yellow Social Media Report
23. 95% of Australian social media users are on Facebook – Yellow Social Media Report
24. 61% of social media users under 20 use Snapchat – Yellow Social Media Report
25. 19% of female social media users use Pinterest – Yellow Social Media Report
26. 71% of Australians now use their smart-phone to access social media sites – whilst tablet usage isn’t far behind laptop computer usages at 39% and 55% respectively – Yellow Social Media Report
27. Video advertising grew 76% to reach $196 million during the 2014 financial year – Interactive Advertising Bureau (IAB) Online Advertising Expenditure Report.
28. Online advertising expenditure for the 12 months reached $4.387 billion, 22% higher than last year’s result. Search and directories was the largest part of the pie at 52%, followed by general display (29.2%) and classifieds (18.8%) – Interactive Advertising Bureau (IAB) Online Advertising Expenditure Report.
29. Mobile advertising has grown strongly reaching $620m in the year to 30 June, making it now larger than the total magazine market – Interactive Advertising Bureau (IAB) Online Advertising Expenditure Report.
30. 36% of Australian survey respondents expressed some concern about their social networking posts/tweets being used for advertising or promotion purposes, with 17% ‘extremely concerned’ about it – Deloitte Media Consumer Survey
Watch: Australian Digital Media and Digital Economy Statistics
Last week, the very influential Mary Meeker released her 2014 Internet Trend Report at the Code Conference in California.
If you don’t have time to wade through the 160+ page report – here is my summary of some of the most interesting insights for marketers with an Australian take on it (where possible).
1) From social broadcasting to selective messaging
Tech acquisitions often shed a lot of light into where things like social media are heading, so when Facebook attempted to acquire SnapChat and went on to purchase WhatsApp it became pretty clear that people were beginning to favour private communications over public social networks. In the past 12 – 18 months, we have seen the popularity of messaging apps soar as consumers seek more control over who sees a message or photograph – demonstrating a shift from broadcast type social messaging to communicating to a select few. This consumer shift will change the way brands use social media with these direct messaging services providing brands with new tools to find and build relationships with individual customers.
With recent statistics demonstrating apps like Snapchat are growing in popularity down under – with approx 10% of the online population already using the Snapchat service, it’s one Australian marketers need to watch closely and consider relevance – particularly brands operating in the youth brand space.
2. Content generation growing but becoming unfindable
As consumers shift some of their focus and attention to communicating via messaging apps – there is a growing amount of unfindable content being generated which limits marketers’ ability to capture brand perceptions and sentiment as well as glean data from social on individual consumers.
3. Mobile growth unabated but mobile advertising still flat
Mobile internet usage continues to grow, with mobile data rising 81% year over year and now making up 25% of total web usage. Despite the significant growth, globally mobile advertising represents just 11% of internet advertising demonstrating lots of room for growth in the years ahead.
In Australia, mobile internet usage trumps usage on any other device making up 33% of all minutes spent accessing the internet. In line with global trends there is significant upside and growth opportunity in mobile advertising down under with mobile internet advertising currently attracting just over $1 in every $5 spent in display, and 17% of all search advertising spend according to the IABs recent statistics.
4. Single purpose apps all the rage
Part of the success of apps like Instagram, WhatsApp and others has been attributed to their single minded purpose. We are seeing tech giants globally begin to invest in single purpose apps i.e. Facebook Messenger to ensure important features that drive usage and interaction are not buried under a mound of functionality.
5. Rapid growth in sensors drives innovation & big data
The rising growth in mobile handsets shipped with sensors will pave the way for the next generation of mobile experiences – as the increasing number of sensors embedded into mobile devices provides an opportunity to create new / more engaging experiences. Equally the growth in sensors is also anticipated to create troves of additional data to mine, contributing to the big data mind-field.
6. Tablet continues to power ahead
The growth of table, seems to continue to roll on growing 52% in 2013, and uptake has grown faster than PCs ever did however penetration globally remains low. The low levels of penetration and high levels of growth indicate there is still significant upside for tablet growth in the years ahead. Locally however it is quite a different story. According to Telstye, sales of tablets in Australia reached 4.8 million in 2013, and it is now estimated that tablet penetration stands at 40%. Telsyte estimates that 29 per cent of units sold in 2013 were Low (<$200) or Medium ($200 – $450) cost, and anticipates these segments to grow to over 50 per cent of sales by 2018, given current trends – which demonstrates Apple share will soften in the coming years in Australia.
7. The evolution of TV a key space to watch
A solid portion of the report focussed on the evolution of TV – which demonstrates the significant amount of change occurring in the space.
Some of the key trends include;
• Traditional TV is being replaced with mobile apps as broadcasters seek to provide consumers with new ways to consume content on the go
• Millennial’s are leading the charge in online TV consumption shunning traditional TV viewing.
• The growth of new premium channels on YouTube can’t be ignored providing consumers with more choice – much of which is being consumed via mobile (approx 40%)
8. Instant gratification drives same day delivery
As free shipping moves towards the norm globally, with approx 47% of online transactions coming from free shipping – the next big horizon is same day delivery to satisfy consumers need for instant gratification. As geographical constraints have led to slower adoption of free delivery by retailers in Australia (due to cost), it is anticipated that same day local delivery will fail to become the norm locally for quite a number of years yet as logistics prove too difficult for most retailers to master.
To view the full report click here
Watch: Takeaways from Mary Meeker’s Internet Trends report 2014
Australian publishers, agencies, industry bodies and bloggers are pumping out a raft of valuable resources which can support strategy / business case development or to simply get up to speed with the digital landscape. This article is a compilation of some of the best infographics, case studies, reports and more that I have come across on the Australian digital market. If you have come across any other valuable resources please share them via the comments field below.
Content Marketing Resources
1. Report: Content Marketing in Australia: 2014 Benchmarks, Budgets and Trends
Published: November 2013
Overview: Compiled by the content institute, ADMA and KingContent – this presentation takes a look at the state of content marketing in Australia vs the UK and US. The presentation covers statistics related to investment in content marketing by marketers, key challenges faced and more.
2. Blog Article: 17 excellent examples of content marketing in Australia
Published: January 2014
Overview: This article is a great compilation of brands both large and small in Australia leveraging content marketing to achieve key marketing objectives. Case studies covered include Intrepid Travel, MYOB, kikki.K, Telstra, Netregistry and more.
View here: http://www.expermedia.com.au/17-excellent-examples-of-content-marketing-in-australia/
Digital Media Resources
3. Diagram: MediaScape – Guide to Australian Digital Media & Advertising Trading Landscape
Published: December 2013
Overview: If you are new to the digital media space, this useful diagram provides a detailed overview of all the options that exist within the digital media trading market in Australia. It serves as a useful cheat sheet for discussions with your media buyer.
View here: http://www.mediascope.com.au/guide-digital-advertising-sales-agencies-networks-exchanges
4. Infographic: mCommerce & Mobile Shopping in Australia
Published: May 2013
Overview: This infographic combines data from an array of sources to provide insight into the mobile shopping landscape in Australia. The infographic details statistics on showrooming by Australians, popular mobile shopping categories and more.
5. Report: AIMIA 9th Mobile Lifestyle Index
Published: October 2013
Overview: You might need to get yourself comfortable before reading this report as it is 99 pages. The AIMIA Mobile Lifestyle Index is a yearly study now in its 9th year. The report contains a host of valuable statistics related to mobile usage in Australia – from smartphone market-share to key activities consumers engage in via their mobile device.
Download here: http://www.aimia.com.au/ampli
6. Report: Telstra’s How Mobility is Changing the Rhythm of Australian Retail
Overview: This detailed report provides insight into the Australian mobile shopper – including analysis of the role mobile plays in influencing consumers at various stages of the path to purchase. This is a great resource for any marketer operating in the retail space.
Download here: http://www.telstra.com.au/business-enterprise/download/document/business-enterprise-teg1398_mobility_retail_white_pages_v08_hr_singles.pdf
7. Report & Infographic: State of Social Media in Australia
Published: May 2013
Overview: This report / infographic explores both Australian consumers consumption of social media along with how businesses are leveraging social media (with a focus on small businesses). From a consumer perspective the report provides a host of statistics on consumer social usage in Australia including the portion of consumers using social media when viewing TV, the portion of consumers accessing reviews via social channels and more. Whilst from a business perspective, the report looks at business uptake of social, budget allocation to the channel and other key statistics.
8. Report & Infographic: Social Customer Care
Published: November 2013
Overview: Social Pulse released a comprehensive report detailing how customers use social media to make enquiries. The report also details what customers expect from companies and how companies are responding to social media queries.
View the infographic here: http://www.marketingmag.com.au/tags/customer-service/#.Uvcq0_mSyOg
For a copy of the full report contact Social Pulse here http://socialpulse.co/social-customer-care-report
eCommerce / Multi-Channel
9. Report & Infographic: NAB Retail Sales Index
Published: Monthly & Quarterly
Overview: Over the past few years NAB has published monthly and quarterly retail sales indexes. The index provides insight into eCommerce growth in Australia, domestic vs international share of online purchases and more.
View the October quarterly infographic here; http://business.nab.com.au/online-retail-sales-index-indepth-special-report-october-2013-5126/
View all available reports / infographics here: www.nab.com.au/onlineretailsales
10. Report: Optus Future of Business Report
Overview: The Optus Future of Business 2013 research report offers detailed insights into how the retail industry is adapting to succeed in an omni-channel environment. The research also reveals what consumers expect of service channels now and in the future.
11. Infographic: Online Gift Purchasing – Christmas 2013
Published: January 2014
Overview: Hot off the press this infographic summarises Australians online buying behaviour during December 2013 – detailing key reasons consumers shopped online at Christmas, types of gifts purchased online and a host of other valuable statistics.
View here: http://cdn.marketingmag.com.au/wp-content/uploads/2014/01/Infographicfinal2.jpg
12. Infographic: Nielsen Australian Connected Consumers
Published: November 2013
Overview: This infographic compares Australians digital usage and consumption behaviour 10 years ago vs today. This infographic demonstrates the growth / change in device ownership overtime, uptake of social media, online advertising spend investment and more.
13. Infographic: Australian Baby Boomers Online Media Usage
Published: April 2013
Overview: Mi9s Baby Boomer infographic puts the spotlight on the over 50s Australian consumer. The infographic details weekly consumption of the internet statistics, multi-screen ownership data and online purchasing behaviour.
View here: http://cdn.marketingmag.com.au/wp-content/uploads/2013/04/Mi9-Baby-Boomers-infographic-2.jpg
It’s that time of year again – tinsel, lights, too much food and digital predictions for the year ahead. With a host of digital experts touting what we can expect in the year ahead, I have curated what I believe to be the most interesting predictions for 2014.
Augie Ray, former Forrester analyst suggests a focus on paid media will eclipse earned media in marketing strategies. As Facebook and Twitter continue to monetise their social platforms and brand noise continues to rise – it is going to be harder to succeed in the social space unless you pay to play. Thus in 2014 brands will leverage paid as an important part of their social strategy more than ever before.
According to Adam Vincenzini from Kamber, an Australian content agency, 2014 will be the year where content promotion takes a bigger chunk of media spend. As brands have been heavily investing in content production in recent years, brands are recognising that this great content is often not gaining the reach / visibility to gain maximum impact. Thus in 2014 we will see more and more publishers creating content solutions to enable brands to work their content assets harder.
According to Quartz, 2014 will be the year the internet of things takes off. Quartz suggests until recently, connecting a device to the internet was expensive and difficult. But in the past year or so, companies like Qualcomm, Intel and Texas Instruments have created inexpensive, power-efficient chips that enable pretty much anything to connect to the internet via Wi-Fi, or to a mobile phone via a standard called Bluetooth Low Energy. As a result innovation by big corporates as well as start ups will accelerate in 2014.
But what does this mean for marketers?
One of the most notable outcomes of the IoT, is that these smart technologies gather a tremendous about of data and for marketers trying to already grapple with the tremendous amount of data already available the IoT adds another level of complexity. Although this challenge will probably not be one marketers need to tackle in the year ahead given the IoT is still emerging.
According to ExactTarget, location based mobile commerce will begin to flourish driven by technology and application innovations like iBeacon.
Kyle Vanhemert in his inWired article described the potential of iBeacon;
“You step inside Walmart and your shopping list is transformed into a personalized map, showing you the deals that’ll appeal to you most. You pause in front of a concert poster on the street, pull out your phone, and you’re greeted with an option to buy tickets with a single tap. You go to your local watering hole, have a round of drinks, and just leave, having paid—and tipped!—with Uber-like ease. Welcome to the world of iBeacon.”
Whilst second screen usage is not new, few brands have taken advantage of it – particularly when it comes to tapping into the social TV trend. Millward Brown believes 2014 will bring a host of new social TV opportunities. According to Millward Brown “the social TV opportunity will be expanded as Twitter introduces additional audience-based targeting opportunities. Millard Brown writes “based on their data connecting TV to social media usage on the second screen, Twitter will be able to define like-minded communities organized around TV viewing habits. Eventually this will lead to more sophisticated psychographic targeting when those audiences are further segmented based on other interests and habits. For brands that are title sponsors of a show or an event, this means they will be able to continue targeting their show-specific audience long after the event itself, and not necessarily just when those people are tweeting or reading about show-specific content.”
In an era of Big Data, marketers equally need to grapple with disappearing data. In 2014, David Berkowitz, Chief Marketing Officer of MRY believes marketers are going to have to come to terms with disappearing data in the social space with new social applications like Snapchat gaining momentum. Such a trend will make it more difficult for marketers to track and target consumers. Equally as companies seek to capture more data than ever before consumers will increasingly prioritise privacy, which puts pressure of law makers to legislate against the capture and storage of various pieces of information. Search marketers already have to come to terms with disappearing search query data from Google – expect much more of this in the year ahead.
Watch: Game-Changing Digital Predictions for 2014
1. The online shopping market in Australia is growing strongly and will account for seven per cent of all retail sales by end of 2013 (Frost & Sullivan’s Australian & NZ Online Shopping Market report, July 2013)
2. Total online spending is forecast to amount to $18.3 billion in 2013, with the average annual spend online per online shopper in Australia at $1,750 (Frost & Sullivan’s Australian & NZ Online Shopping Market report, July 2013)
3. Online sales are expected to continue to grow over the next five years and reach 9.8 per cent of total retail sales by 2017 (Frost & Sullivan’s Australian & NZ Online Shopping Market report, July 2013)
4. The most regular online shoppers are those earning over $80,000, and those aged 30 to 44 (EMMA, Sept 2013)
5. Shoppers in the 30 to 60 age bracket earning more than $80,000 represent the top 33% of all online spending and are the biggest online shoppers, spending nearly double the average spend (EMMA, Sept 2013)
6. Over the past two years the proportion of online shoppers in Australia shopping on local sites only increased from 21% in 2011 to 25% in 2012 and 29% in 2013
7. International online retailers remain a major threat to domestic retailers with almost as many (six in 10) shopping online with international retailers as with domestic retailers (seven in 10) (EMMA, Sept 2013)
8. 79% of Australians who shop online currently purchase from overseas sites to some extent, and an estimated 45% of Australian online expenditure goes to overseas-based web-sites (Frost & Sullivan’s Australian & NZ Online Shopping Market report, July 2013)
9. One in three (33 per cent) Australian consumers have abandoned an online purchase due to the delivery options not being suitable. Some 43 per cent of customers have abandoned a purchase because of payment options and fees being unsuitable. (Galaxy Research, July 2013)
10. While more than three quarters of Australians (76%) have shopped online in their lifetime, more than three quarters (86%) have visited a shopping centre in the last month (EMMA, Sept 2013)
What the data is telling us: As Australian retailers are increasingly investing in eCommerce and digital – Australian consumers are increasingly turning to local sites to purchase online. However despite growth in the domestic market, research shows that Australian consumers are still buying overseas as more US and UK retailers target Australian shoppers. For local retailers the big opportunity is to focus on delivering an omni-channel approach as opposed to operating their eCommerce channel as a silo / separate business as research suggests the majority of Australian consumers who have bought online are also actively shopping instore.
11. Telstra’s latest Smartphone Index shows Australians have one of the highest rates of smartphone ownership in the world. We are behind China and South Korea, but ahead of the US and UK (Telstra’s third annual Smartphone Index, October 2013)
12. Smartphone penetration has doubled since 2010, reaching 72% of total mobile phone users (up from 36% in 2010), and continues to grow (Telstra’s third annual Smartphone Index, October 2013)
13. 71% of connected smartphone users access the internet on their smartphones on a daily basis (up from 56% in 2012) (Telstra’s third annual Smartphone Index, October 2013)
14. Young connected smartphone users aged 16 to 24 will spend the equivalent of a month on their smartphones each year (29 days) (Telstra’s third annual Smartphone Index, October 2013)
15. Women aged 16+ will spend an average of 21 days a year on their smartphone, while men will spend around 15 days a year. That’s not even taking into account the time spent on a tablet or a computer (Telstra’s third annual Smartphone Index, October 2013)
16. Australians are using their mobile phone as the entry point to their path to purchase, with 79 per cent using their devices to browse products on websites or apps (Telstra’s How Mobility is Changing the Rhythm of Australian Retail Report, October 2013)
17. The top reasons consumers are using their mobile device in a retail store include checking out competitor prices (22%), and to read product reviews (19%)
18. Of those who have used their mobile device in a store, 51 per cent say it has changed their purchase decision.
19. Over the past 12 months, 25% of online Australians have purchased via a tablet device, whilst 23% have done so via a mobile device (Telstra’s How Mobility is Changing the Rhythm of Australian Retail Report, October 2013)
20. Retailers considering offering mobile payments in their store should be encouraged by a strong willingness of Australians to give it a go with 61 per cent of consumers very willing or somewhat willing to pay with their mobile in a store, compared with 36 per cent who would not consider it (Telstra’s How Mobility is Changing the Rhythm of Australian Retail Report, October 2013)
21. Tablet ownership/usage has risen sharply with almost one in two (49%) of smartphone owners also owning a tablet (up from 39% in 2012) (Telstra’s third annual Smartphone Index, October 2013)
22. Smartphone penetration is anticipated to reach 93% penetration by 2018, whilst household tablet penetration is anticipated to reach 80% by 2018 (Frost & Sullivan’s Mobile Device Usage Trends, August 2013)
23. Apple’s market share in Australia of the tablet market has dropped from 69% to 60%, and it is expected to fall significantly lower over the next few years (Frost & Sullivan’s Mobile Device Usage Trends, August 2013)
What the data is telling us:
Whilst Australians have one of the highest rates of mobile penetration in the world, companies are still slow to invest in mobile. In fact according to a recent IPSOS / eMarketer report mobile ad spend lags behind that of comparable markets (refer to the graph below). In addition Google research suggests 60% of large Australian advertisers do not have a mobile website.
Not only however do marketers need to think about mobile and the role it plays in the path to purchase / post purchase but marketers also need to consider the role mobile plays within the broader multi-screen strategy / multi-channel strategy as research shows around two in five people who start to research products on smartphones go on to complete purchases on desktop or in person.
24. 65% of internet users have a presence on social media sites such as Facebook, Twitter or LinkedIn (Yellow Social Media Report, May 2013)
25. Australians are one of the highest users of social media worldwide. For every hour an Australian spends online 14 minutes are spent on social sites, nine on entertainment and four minutes shopping online (Experian, April 2013)
26. There are 12 million active monthly Facebook users in Australia, 9 million users access the site daily, 7.3 million do so via a mobile device (SMH, August 2013)
27. Facebook dominates the social media space, capturing 95% of social media users. On average, Facebook users spend more than seven hours a week on the site (Yellow Social Media Report, May 2013).
28. Some 45% use social media networks at least every day, up from 36%, with 17% using it more than five times a day (Yellow Social Media Report, May 2013)
29. Australians access social media all throughout the day, with 37% of social media users checking their networks first thing in the morning and 42% just before bed (Yellow Social Media Report, May 2013)
30. There are nearly 3 million Twitter accounts in Australia (Business Day, Oct 2013)
31. 12% of Australian social media users reported that they had stopped using some sites during the past year, down from 13% last year. Of those Australians who said they’ve dropped a social media site, 45% reported they had stopped using Twitter (Yellow Social Media Report, May 2013)
32. Smartphones are the most popular device to access social media with. In the past year, the number of social users accessing sites on their smartphone has grown from 53% to 67%, while those accessing it on a laptop dropped from 69% last year to 64% this year (Yellow Social Media Report, May 2013)
33. 66% of consumers who follow brands on social media do so for discounts (up from 57% in 2011), 56% do so for giveaways and 49% for product information (Yellow Social Media Report, May 2013)
34. 63% of online consumers in Australia indicated that in the past month they have shared some type of content on social media sites. Women (69%) appear somewhat more likely than men (57%) to have shared some content in the past month. (IPSOS, Sept 2013)
35. LinkedIn is now used by 3.7 million Australians, Pinterest has 1.7 million Australian users & YouTube over 11 million Australian users (Adcorp Population Analysis, May 2013)
What the data is telling us:
Australians interest in and usage of social media seems to continue to tick along showing no real signs of decline. As a large number of consumers are now accessing social media via their mobile device marketers should be considering how to take advantage of the social + mobile opportunity.
36. Online advertising expenditure in Australia in the past year to 30 June has leapt 14.6 per cent to $3.6bn, according to the latest Interactive Advertising Bureau (IAB) figures (CMO, June 2013)
37. Over the first six months of the year total online advertising exceeded free-to-air television spending for the first time since the IAB report began in 2002. According to the IAB, online expenditure was valued at $1.88bn against $1.8bn on television (CMO, June 2013)
38. Mobile spend continues to outpace other categories in terms of growth, increasing 190 per cent year-on-year. Mobile spend reached $45.9m and 58 per cent was tablet-based (CMO, June 2013)
39. Video display advertising is also on the rise, increasing by 56 per cent year-on-year in the June quarter to $35.7m (CMO, June 2013)
What the data is telling us: Whilst digital advertising has now surpasses TV advertising for the first time ever, Australian businesses are still investing a disproportionate amount into traditional advertising vs. digital given Australians spend more time engaging with the web vs. any other medium.
Video: Internet Statistics Australia (eCommerce 2013)
Galaxy Research, July 2013 – http://www.afr.com/p/tech-gadgets/five_reasons_your_customers_don_8PwxkBRExFef4JCFQmy8rO
Frost & Sullivan’s Australian & NZ Online Shopping Market report, July 2013, http://www.frost.com/prod/servlet/press-release.pag?docid=281435628
EMMA Data, September 2013 –http://www.adnews.com.au/adnews/online-retail-not-just-about-price-and-marketers-should-focus-on-big-spenders
Telstra’s third annual Smartphone Index, October 2013 – http://www.telstra.com.au/abouttelstra/media-centre/announcements/shopaholics-get-smartphone-savvy.xml
Telstra’s How Mobility is Changing the Rhythm of Australian Retail Report, October 2013 – http://www.telstra.com.au/business-enterprise/download/document/business-enterprise-teg1398_mobility_retail_white_pages_v08_hr_singles.pdf
Experian Social Media Research, April 2013 – http://www.marketingmag.com.au/blogs/the-state-of-social-media-usage-in-australia-41342/#.UmnfQPmkzz4
Google Mobile Statistics, June 2013 – http://www.adnews.com.au/adnews/google-australian-advertisers-missing-out-through-mobile-site-fail
Business Day, Oct 2013 – http://www.businessday.com.au/business/twitter-has-growth-plan-for-australia-20131004-2uzp7.html
Mobile Ad Spend, Sept 2013 – http://www.bandt.com.au/news/digital/m-c-saatchi-advertisers-failing-to-capitalise-on-o
Online Ad Spend, June 2013 – http://www.cmo.com.au/article/523459/australian_online_ad_spending_hits_3_6bn_iab/
Yellow social media report, May 2013 – http://about.sensis.com.au/IgnitionSuite/uploads/docs/Yellow%20Pages%20Social%20Media%20Report_F.PDF
IPSOS Research, Sept 2013 – http://ipsos.com.au/majority-of-australian-internet-users-share-on-social-media-sites/
Frost & Sullivan Australian Mobile Device Usage Trends 2013, August 2013 – http://www.frost.com/prod/servlet/press-release.pag?docid=282630973
AdCorp Population Analysis, May 2013 – http://www.financialstandard.com.au/news/view/33355466
Social Media Users Australia, August 2013 – http://www.smh.com.au/digital-life/digital-life-news/facebook-checked-by-9-million-australians-every-day-20130820-2s7wo.html
Last week AdTech descended on Melbourne for another year, and whilst I couldn’t find the time to attend most of the event I was glad I found the time to hear Ekaterina Walters from Branderati present 5 trends marketers can’t ignore.
Amongst the key trends covered was that of real time marketing. Whilst this concept is not new it is starting to come of age and it got me thinking. How have global brands successfully leveraged the trend and what can be learnt from it. And more importantly what does it take for organisations to embrace real time marketing?
A quick definition for those unfamiliar with the concept of real time marketing;
Real-time marketing is the outcome of a deliberate process that allows brands to respond authentically, quickly and based on the context of conversations through content, experiences or service.
By now most of you would have heard of Oreo’s successful real time marketing efforts during the Super Bowl – so rather than regurgitate this case study how has other brands leveraged real time marketing. Here are a few clever examples I have come across;
Within minutes of the bill legalising gay marriage in the UK, Virgin Holidays tweeted this image and posted it to their Facebook and Google+ Pages. Selecting the most appropriate “real time marketing opportunities” for a brand is key – otherwise it can feel a little forced / commercial. For Virgin, legalisation of gay marriage was one of those relevant moments based on audience fit, their founders’ views of gay rights and the fact they offer honeymoon vacations. They used the #equalmarriage hashtag to expand their reach and were rewarded with 265 re-tweets from their community.
Pantene’s hairstyles of the stars
For Pantene, the Oscars marked the ideal time to try their hand at real time marketing. With luscious locks on display from celebs Pantene decided to get a piece of the Oscars buzz by sketching the trendiest Oscar hairstyles of the most popular celebrities in how to formats featuring their own products. For years women’s’ magazines have given tips to re-create a celebrity look and Pantene have learnt from the experts bringing this concept to life in real time.
SmartCar – it takes more than just one bird
Too often consumers are tweeting on deaf ears – but not this time. @adtothebone tweeted that he “Saw a bird had crapped on a Smart Car. Totalled it.,” SmartCar saw this as an opportunity to extend a simple tweet into a branded SmartCar message through the creation of a hilarious / engaging infographic and tweeted back, “Couldn’t have been one bird, @adtothebone. Sounds more like 4.5 million. (Seriously, we did the math.)”
SmartCar USA was rewarded with over 500 re-tweets and 300 favourites by being great social listeners and capitalising on an opportunity to engage.
This form of marketing goes far beyond simply posting a timely tweet or status update. To succeed in this brave new marketing world Ekaterina Walters identified some of the key fundamentals during her presentation at AdTech Melbourne.
In a real time world there is little time to work through traditional approval processes – thus real time teams need to be empowered to make the decisions they think are appropriate at the time. Related to this concept of empowerment is the need to be agile / nimble. The vast majority of advertising creative is generated the same way it has been for decades: first comes the creative brief, followed by several concepts / ideas followed by selection and approvals before the piece finally sees the light of day. But tomorrow is too late when it comes to real time. Re-architecting internal processes is an important consideration for brands wanting to engage in real time marketing (and these processes usually extend beyond marketing department boundaries). Rick Wion, Director of Social Media at McDonalds stated in a recent interview “our partnership with our legal team comes in handy. They help us understand what we can react to very quickly, what things are going to take a little bit more time to do, and what things we would probably avoid.
Think and operate like a publisher
In the world of real time marketing – content is king. For brands it’s important to shift away from broadcasting the products and services we offer and instead focus on publishing content desired by their audience. Pantene did exactly that during the Oscars, they learnt from publishers who regularly communicate with their audience to tell a relevant story in real time.
Allow on brand risk taking
Cutting through in real time is a challenge and for some brands it hasn’t panned out – but for those actively engaging in the real time marketing space brands need to be prepared to take “on brand” risks. For the risk adverse this is a challenge, it is also difficult for organisations who don’t celebrate failure as part of the journey to success.
When the Super Bowl hit, Oreo’s social media team as well as their agency were waiting for an opportunity to get in the game. Activating resources incurs costs as does investing in the tools to effectively monitor the social space to identify opportunities and paid media spend to amplify earned media. This is not to say that real time marketing is therefore only for the big end of town – but if you want to get serious about real time marketing then marketing investment is an important consideration.
In addition I believe it takes leadership. Why?
It takes a brave and bold senior leader to champion real time marketing and drive a change in ways of doing things.
Whilst research on the effects of real time marketing to the bottom line is somewhat few and far between, preliminary research conducted by GolinHarris in 2012 found consumer behaviour from awareness through to try / buy is positively impacted by exposure to real time marketing.
But if this isn’t enough to convince you to try it for yourself – it is probably case studies like that of Oreo that helps to paint the picture of the value of real time marketing. Oreo’s Super Bowl real time marketing efforts generated in-excess of 17,000 re-tweets combined with a substantial amount of press coverage which in PR value alone probably more than justifies the investment.
Video: What is real-time marketing? (from Adobe Summit 2013)
Once again digital predictions are coming out of the woodwork. I’ve scoured the web for some of the most insightful digital trends of 2013 from the experts.
As organisations continue to shift spend from traditional marketing to digital channels – software is high on the marketing shopping list. According to Forbes, marketing budgets are headed on a collision course with IT. What if anything isn’t connected through the website? Online, inline and offline communications and real-time changes will drive investments that match those of IT departments shifting the technology and budget power balance. IBMs Vice President, Elana Anderson added “In 2013, CIOs and CMOs will stop looking at their differences and consider the benefits that their combined strength can bring to an organization. This alliance isn’t just logical, it’s essential. The CMO and CIO can’t afford to operate on separate stages any longer. Smarter, more empowered consumers using smart phones, tablets and cloud services pose new challenges for the C-suite. There are already good examples of leading companies as diverse as financial services and retail chains bringing IT to bear on marketing goals. It’s this combination of engagement, innovation, measurement and collaboration – all enabled by technology – that lies at the heart of better business performance in 2013.”
The question is though whilst this trend will be a key theme in markets like the US and the UK– the level of digital sophistication in the local market may mean that this trend is a little premature for Australia. As local brands adopt more and more digital,those new to the game will start to call into question structures and processes to enable progress in the space whilst those truly progressive few will start to tackle these bigger issues as it impacts a brands ability to be agile and move towards “real time marketing”.
According to Hubspot in 2013 we’ll see many more marketers take advantage of the power of real-time communications to grow business. As buyers instantly engage with brands on their websites, talk back via social media like Twitter and Facebook, and follow breaking news in the markets they are interested, the old model of marketing built on a company timeline doesn’t work so well.
With marketing automation and cross channel marketing platforms, marketers have the tools to move towards a “real time marketing” approach but the biggest hurdle is marketing team mindsets – particularly if the organisation is still led by a traditional marketing approach, which is still the case in many organisations down under.
Advertising is going native
The continued decline in engagement with display advertising has led to innovation in the digital advertising space. Over recent years “native advertising” has begun to grow in popularity (eg Facebook’s sponsored stories and Twitter’s promoted tweets) as brands looks to integrate their message into the conversation or story rather than distract from it. According to Rebecca Lieb, an analyst from the Altimeter Group 2013 will be a big year for native advertising “we are seeing a number of technologies and solutions emerge to facilitate native advertising. Products and solutions in this area will continue to emerge, more publishers will accommodate, and there’s no doubt we’ll see some interesting, large-scale media partnerships emerge as a result.”
The battle of the living room
Whilst multi-screen use isn’t new – 2013 will be a year of innovation for TV networks as brands look for new opportunities to capitalise on multi-screen usage – which will of course filter down to Australia. According to Caitlan Mitchell & Chris Ferrel of the Richards Group;
2013 will show that hashtags are not the only way to engage in conversations around your favorite TV shows. Social TV will play an integral role in the battle for the living room as part of a concerted effort to blur the line between live and on-demand content. FX and Twentieth Century Fox seek to be leaders in this space, exemplified by their “Sons of Anarchy” app, completely redeveloped for the fourth season of the show. By taking advantage of audio fingerprinting technology, the app automatically detects audio from the episode and displays real-time content on the second-screen device. Everything from 3-D gyroscopes, virtual scene tours, real-time content, an e-commerce merchandise store and social sharing are integrated right within the app.
Technology is the new accessory
In 2012, Google introduced us to a whole new world with the release of Google Glasses – but in 2013 it seems a host of new products will be launched in market which will take “personal computing” to a whole new level. According to David Armano, the Managing Director of Edelman, from fuel bands to bracelets – these are just a preview of what we will see a lot more of in 2013 as we begin to look part human, part machine. There are already ski goggles that display a tiny screen allowing you to not only sync your mobile device but help you determine where you are and how fast you are going.
And to finish it off, here are a few predictions of my own – related to the local market.
Digital marketers in demand for top jobs
With brands rushing to evolve in the new digital world, we will begin to see brands, particularly those that have smaller teams and flatter structures – look to hire digital marketers into senior marketing positions to lead the way in digital. When Sportsgirl set out to hire their new Strategic Brand Manager last year, digital marketing experience was at the top of their list of wants – and as one of the more progressive retailers this is a sign of things to come and in 2013 I believe we will begin to see more brands focus on strong digital experience “as a pre-requisite” for the top job.
The year of the mobile for Australian brands
The tipping point for mobile has well and truly come – but not for Australian brands. During last year’s Click Frenzy event it was revealed that only 50% of participating retailers had a mobile enabled site – which is low given those that participated are some of the more progressive retailers in the country.
With mobile internet take up and usage charging along – I believe this year, brands across a range of industry sectors will really begin to embrace mobile as an integral part of their digital strategy.